The beneficiaries are clearly the companies those who are importing some components/parts that goes in to manufacturing defence equipments/ assemblies / sub-assemblies / finished product.
Which means not only the front line defence companies like HAL, BEL, BEML, Bharat dynamics , All 3 defence shipping companies, Midhani , Bharat forge, etc ,
But also the ancillaries to these front line companies could also be the beneficiaries if they are importing some components to make their products they supply to the front line companies as above.